I know I can claim back tax on certain pre-trading expenses.
But I am confused now, can/should I record Pre-trading expenses on Companies Accounts?
If I do my balance sheet will show me a loss for previous years... Will this be correct?
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Recognise in the accounts in the first year, day one transaction,
Dr Expense/Capital
Cr Loan account (likely directors)
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim46351